Construction Partners, Inc. Announces Closing of Lone Star Paving Acquisition
Company Raises Fiscal 2025 Outlook to Reflect November Closing
Updated Fiscal 2025 Outlook
In connection with the closing of the
- Revenue in the range of
$2.48 billion to$2.58 billion - Net income in the range of
$97 million to$113 million - Adjusted EBITDA(1) in the range of
$347 million to$377 million - Adjusted EBITDA Margin(1) in the range of 14.0% to 14.6%
Smith continued, "The
(1) Adjusted EBITDA and Adjusted EBITDA Margin are financial measures not presented in accordance with generally accepted accounting principles ("GAAP"). Please see "Reconciliation of Non-GAAP Financial Measures" at the end of this press release.
About
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words such as "seek" "continue," "estimate," "predict," "potential," "targeting," "could," "might," "may," "will," "expect," "should," "anticipate," "intend," "project," "outlook," "believe," "plan" and similar expressions or their negative. The forward-looking statements contained in this press release include, without limitation, statements regarding the benefits of the
Contact:
ROAD@DennardLascar.com
(713) 529-6600
- Financial Statements Follow –
Reconciliation of Non-GAAP Financial Measures
Adjusted EBITDA represents net income before, as applicable from time to time, (i) interest expense, net, (ii) provision (benefit) for income taxes, (iii) depreciation, depletion, accretion and amortization, (iv) share-based compensation expense, (v) loss on the extinguishment of debt, and (vi) extraordinary acquisition expenses incurred outside the ordinary course of the Company's business that the Company does not expect to reoccur. Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of revenues for each period. These metrics are supplemental measures of the Company's operating performance that are neither required by, nor presented in accordance with, GAAP. These measures have limitations as analytical tools and should not be considered in isolation or as an alternative to net income or any other performance measure derived in accordance with GAAP as an indicator of the Company's operating performance. The Company presents Adjusted EBITDA and Adjusted EBITDA Margin because management uses these measures as key performance indicators, and management believes that securities analysts, investors and others use these measures to evaluate companies in the Company's industry. The Company's calculation of Adjusted EBITDA and Adjusted EBITDA Margin may not be comparable to similarly named measures reported by other companies. Potential differences may include differences in capital structures, tax positions and the age and book depreciation of intangible and tangible assets.
The following table presents a reconciliation of net income, the most directly comparable measure calculated in accordance with GAAP, to Adjusted EBITDA and the calculation of Adjusted EBITDA Margin for the periods presented:
Net Income to Adjusted EBITDA Reconciliation Fiscal Year 2025 Updated Outlook (unaudited, in thousands, except percentages) |
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|
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|
|
For the Fiscal Year Ending
|
||
|
|
Low |
|
High |
Net income |
|
|
|
|
Interest expense, net |
|
64,072 |
|
62,715 |
Provision (benefit) for income taxes |
|
32,471 |
|
38,432 |
Depreciation, depletion and amortization |
|
128,957 |
|
138,353 |
Equity-based compensation expense |
|
21,500 |
|
21,500 |
Acquisition expenses |
|
3,000 |
|
3,000 |
Adjusted EBITDA |
|
|
|
|
|
|
|
|
|
Revenues |
|
|
|
|
Adjusted EBITDA Margin |
|
14.0 % |
|
14.6 % |
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